TLDR: it all comes down to money...Bit of a mini rant here that I feel like others can relate to - but why is it so darn hard to get a TC ?! I understand that getting a job in today's market is difficult no matter what field you are in , but it seems like these days so many people are applying for vacation schemes and training contracts. It is what it is, but i'm genuinely curious about why there seem to be a billion people (and it seems to be more each year) that are trying to get into commercial law - and obviously there isn't enough room for everybody. So, does anyone know why everyone and their mother wants a training contract?!
Basically, things have gotten so stratospherically expensive within the past 2 or 3 years to the point that if you're not in a position like banking/ consultancy/ commerical law/ entrepreneur etc. you will find yourself struggling on an average entry level salary especially if you dont have the luxury of living with parents.
This is also coupled with much more international competition since there has been a massive increase in the number of international students being accepted into universities. This is because unis are esentially being forced to take on more internationals since they pay more tuition fees compared to domestic students and unis need to keep up with their own rising costs.
And, many law firms are reducing their intake to save on costs especially as most of them keep putting up salaries and need to fund this cost by taking on less trainees.